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EXHIBIT 11.1
LEUKOSITE, INC.
COMPUTATION OF PRO FORMA NET LOSS PER COMMON SHARE
THREE MONTHS ENDED SEPTEMBER. 30, NINE MONTHS ENDED SEPTEMBER 30,
1996 1997 1996 1997
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Net Loss $(1,812,679) $(3,269,215) $(5,646,099) $(6,969,331)
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Shares used in computing pro forma net loss per
common share:
Weighted average common stock outstanding
during the period 1,074,990 2,550,668 1,059,566 1,584,277
Conversion of redeemable convertible
preferred stock and convertible preferred
stock (1) 4,830,498 5,535,632 4,830,498 5,535,632
Dilutive effect of common equivalent shares
issued subsequent to June 26, 1996 (2) 142 71 142 47
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5,905,630 8,086,371 5,890,206 7,119,956
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Pro forma net loss per common share $ (.31) $ (.40) $ (.96) $ (.98)
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(1) Effective upon the closing of the Company's initial public offering of
common stock, all shares of redeemable convertible preferred stock and
convertible preferred stock automatically converted into common stock.
Accordingly, these shares have been included as outstanding for all periods
presented.
(2) Pursuant to Securities and Exchange Commission Staff Accounting Bulletin No.
83, common stock, preferred stock, stock options and warrants issued at prices
below the initial public offering price per share ("cheap stock") during the
twelve month period immediately preceding the filing date of the Company's
Registration Statement for its initial public offering have been included as
outstanding for all periods through the date of the offering. The dilutive
effect of the common and common stock equivalents was computed in accordance
with the treasury stock method.